Labour is progressing plans to take “land profiteering”
out of the housing market with a new agency specifically set up to let councils
and developers buy sites cheaply from private owners to boost low-cost homes.
Through a change in law, the proposed Sovereign Land Trust (SLT) – unveiled by
shadow housing secretary John Healey last year – would buy agricultural land at
“near current-use value” rather than the inflated prices it sells for when
earmarked for development. The new trust would have the potential to purchase
non-green belt land on the edge of cities and parcel it out for development to
councils and housing associations. Read more on 24housing.
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